Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M/V Hellasship and Time Charter Agreement with NYK Line
May 06 2021 - 9:00AM
Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”)
(NASDAQ: SHIP) announced today that it has taken delivery of the
181,325 dwt Capesize bulk carrier, built in 2012 by Imabari
Shipbuilding Co. in Japan, which was renamed M/V Hellasship (the
“Vessel”). The delivery of the M/V Hellasship is the first of the
four Capesize acquisitions performed already in 2021.
The Vessel has been fixed on a time charter
(“T/C”) with NYK Line, a leading Japanese shipping company and
operator. The T/C is expected to commence immediately, upon
finalization of the customary transition process and will have a
term of minimum 11 to maximum 15 months from the delivery. The
gross daily rate of the T/C is based at a premium over the Baltic
Capesize Index (“BCI”).
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“We are pleased to announce the well-timed
delivery of our twelfth cape vessel, during the strongest Capesize
market of the last decade with spot rates standing currently above
$42,000 per day. This delivery is the first of the four
acquisitions we agreed so far in 2021, before the impressive surge
in freight day rates and asset values. Needless to say, that our
timing has been once again optimal.
“At the same time, we are glad to initiate a
long-term commercial partnership with another leading charterer
through M/V Hellasship’ s period employment. The relationships we
have established with first class charterers in the Capesize space
attest to the operational quality of our fleet and management
platforms.
“Currently, 92% percent of our fleet is employed
under index-linked time charters allowing Seanergy’ s earnings to
be highly correlated with the performance of the Capesize index. We
believe that Seanergy, as a pure-play Capesize owner, is best
positioned to fully benefit from the strong earnings environment
and increasing asset values.”
Company Fleet upon Vessels’
delivery:
Vessel Name |
Vessel Class |
Capacity (DWT) |
Year Built |
Yard |
Employment |
Partnership |
Capesize |
179,213 |
2012 |
Hyundai |
T/C Index Linked |
Championship |
Capesize |
179,238 |
2011 |
Sungdong |
T/C Index Linked |
Lordship |
Capesize |
178,838 |
2010 |
Hyundai |
T/C Index Linked |
Premiership |
Capesize |
170,024 |
2010 |
Sungdong |
T/C Index Linked |
Squireship |
Capesize |
170,018 |
2010 |
Sungdong |
T/C Index Linked |
Knightship |
Capesize |
178,978 |
2010 |
Hyundai |
T/C Index Linked |
Gloriuship |
Capesize |
171,314 |
2004 |
Hyundai |
T/C Index Linked |
Fellowship |
Capesize |
179,701 |
2010 |
Daewoo |
T/C Index Linked |
Geniuship |
Capesize |
170,058 |
2010 |
Sungdong |
T/C Index Linked |
Hellasship |
Capesize |
181,325 |
2012 |
Imabari |
T/C Index Linked |
Goodship |
Capesize |
177,536 |
2005 |
Mitsui Engineering |
T/C Index Linked |
Leadership |
Capesize |
171,199 |
2001 |
Koyo – Imabari |
Voyage/Spot |
Tradership* |
Capesize |
176,925 |
2006 |
Japanese Shipyard |
N/A |
Flagship** |
Capesize |
176,387 |
2013 |
Japanese Shipyard |
N/A |
Patriotship* |
Capesize |
181,709 |
2010 |
Japanese Shipyard |
N/A |
Total / Average age |
|
2,642,463 |
11.9 |
|
|
|
*delivery expected by mid-June |
**delivering promptly |
|
About Seanergy Maritime Holdings
Corp.
Seanergy Maritime Holdings Corp. is the only
pure-play Capesize ship-owner publicly listed in the US. Seanergy
provides marine dry bulk transportation services through a modern
fleet of Capesize vessels. Upon delivery of vessels which the
Company has recently agreed to acquire, the Company's operating
fleet will consist of 15 Capesize vessels with an average age of
11.9 years and aggregate cargo carrying capacity of approximately
2,642,463 dwt.
The Company is incorporated in the Marshall
Islands and has executive offices in Glyfada, Greece. The Company's
common shares trade on the Nasdaq Capital Market under the symbol
“SHIP,” its Class A warrants under “SHIPW” and its Class B warrants
under “SHIPZ.”
Please visit our company website at:
www.seanergymaritime.com.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events. Words such as "may",
"should", "expects", "intends", "plans", "believes", "anticipates",
"hopes", "estimates" and variations of such words and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks and are based upon
a number of assumptions and estimates, which are inherently subject
to significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, the Company's operating
or financial results; the Company's liquidity, including its
ability to service its indebtedness; competitive factors in the
market in which the Company operates; shipping industry trends,
including charter rates, vessel values and factors affecting vessel
supply and demand; future, pending or recent acquisitions and
dispositions, business strategy, areas of possible expansion or
contraction, and expected capital spending or operating expenses;
risks associated with operations outside the United States; risks
associated with the length and severity of the ongoing novel
coronavirus (COVID-19) outbreak, including its effects on demand
for dry bulk products and the transportation thereof; and other
factors listed from time to time in the Company's filings with the
SEC, including its most recent annual report on Form 20-F. The
Company's filings can be obtained free of charge on the SEC's
website at www.sec.gov. Except to the extent required by law, the
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
For further information please contact:
Seanergy Investor RelationsTel: +30 213 0181 522E-mail:
ir@seanergy.gr
Capital Link, Inc.Daniela Guerrero230 Park Avenue Suite 1536New
York, NY 10169Tel: (212) 661-7566E-mail:
seanergy@capitallink.com
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